The dark art of banking and getting a mortgage
This is Money Podcast
This is Money
4.1 • 650 Ratings
🗓️ 20 May 2016
⏱️ 54 minutes
🧾️ Download transcript
Summary
Have banks been let off the hook again? That's been the reaction to the CMA report into retail banking.
In this week's This is Money podcast with Share Radio, Simon Lambert, Lee Boyce and Georgie Frost look at whether we should be doing more to break-up the big banks and why many years on from the rip-off bank charges battle, they've just been told to clean up their act.
Also on this week's show we discuss the dark art of mortgage affordability calculators - and why some lenders seem to offer the same test couple £200,000 more than others.
We also ask what next for the property market and buy-to-let? The landlord stamp duty stampede sent buy-to-let purchases rocketing - and many investors may have been involved in a bit of false economy - but will the market stall now?
And Andy Haldane, of the Bank of England, listen up, we've explained how pensions work to help you understand them after you said you couldn't.
Transcript
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| 0:00.0 | On digital radio across the UK and online, this is Share Radio. |
| 0:12.4 | This is Money, brought to you in partnership with NS&I, giving you 100% security for your savings. |
| 0:29.7 | Thank you. giving you 100% security for your savings. A very well welcome to This is Money and Share Radio podcast in partnership with NS&I. |
| 0:34.6 | I'm Georgie Frost here with you on DAB across the country online and through |
| 0:39.1 | the Share Radio mobile app. Every week, day from nine until midday, sharing ideas about money. |
| 0:44.6 | I'm joined in the studio today by editor Simon Lambert and Consumer Affairs Editor Lee Boyce |
| 0:49.2 | from the financial website of the year to talk through some of their stories. They've been |
| 0:54.2 | investigating over the last seven days. And on the agenda today, banks could be |
| 0:59.0 | forced to cap monthly overdraft fees and to give us more information about switching to |
| 1:04.3 | better deals. But do the proposals by the competition watchdog go far enough to break the |
| 1:10.1 | dominance of the big four. |
| 1:11.7 | Our entire focus is what's in it for the customers. At the moment, the way of banking works, |
| 1:17.4 | the big banks don't have to work hard enough for their customers. We investigate the dark art |
| 1:22.6 | of mortgage affordability calculators. There's a huge £200,000 gap between what lenders say you can |
| 1:29.2 | borrow, and it could be pushing unwary first-time buyers into smaller properties or into |
| 1:34.5 | different areas. |
| 1:35.6 | Sticking with property, Simon takes a look at the impact on house prices after landlords rushed |
| 1:40.6 | in to beat the stamp duty hike. |
| 1:42.6 | Frankly, people buying a home to let should not be |
| 1:45.3 | squeezing out families who can't afford a home to buy. Was there a rush all a false economy? Now, |
| 1:50.9 | do you struggle to get your head around all the pension changes? Do you understand charges, |
| 1:55.0 | fees, how to make the most of your retirement savings? If the answer is no, then you're in very good company. |
... |
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